Lapsing Forfeiture Right. In the event that for any reason the Participant is no longer an employee, director or consultant of the Company or an Affiliate (such event being the “Termination”) prior to , the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows:
Lapsing Forfeiture Right. Except as otherwise set forth in Sections 2(b),(c) and (d) below, in the event that for any reason the Participant is no longer an employee, director or consultant of the Company or an Affiliate (such event being the “Termination”) prior to __________________, the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows:
Lapsing Forfeiture Right. In the event that for any reason (i) the Participant is no longer an employee, director or consultant of the Company or an Affiliate (such event being the “Termination”) prior to achievement of a performance goal listed below; or (ii) the Company does not achieve a performance goal set forth below by August 12, 2021 (the “Performance End Date”), the Participant (or the Participant’s Survivor) shall, on the date of Termination or the Performance End Date, as applicable, immediately forfeit to the Company (or its designee) the number of Granted Shares which have not yet lapsed as set forth below (the “Lapsing Forfeiture Right”). The Lapsing Forfeiture Right shall lapse with respect to one-half of the Granted Shares upon achievement of each of the performance goals prior to the date of Termination or the Performance End Date, as applicable. The foregoing notwithstanding, if a performance goal is achieved prior to the first anniversary of the Grant Date, then the Lapsing Forfeiture Right as to the one-half of the Granted Shares applicable to such performance goal shall not lapse until the first anniversary of the Grant Date, and if a Termination occurs prior to such one-year anniversary, the Granted Shares shall be forfeited to the Company as if the performance goal had not been achieved as of the Termination date; provided, however, that if such Termination occurs due to the Participant’s death or Disability (as defined in the Plan), or there occurs a Change of Control (as defined in the Plan) prior to the first anniversary of the Grant Date, the Granted Shares applicable to such performance goal shall not be forfeited to the Company, and Lapsing Forfeiture Right with respect to such Granted Shares shall lapse as of such Termination date or immediately prior to the Change of Control transaction. The Company’s Lapsing Forfeiture Right shall lapse as to one-half of the Granted Shares upon achievement of each of the following performance goals prior to the Performance End Date (or earlier upon a Termination): § Acceptance of a biologics license application for mirvetuximab soravtansine (IMGN853) by the U.S. Food and Drug Administration (the “FDA”). § Receipt of marketing approval for IMGN853 from the FDA. The determination of achievement of the performance goals shall be based on certification of achievement of a performance goal by the Compensation Committee, which certification date shall be deemed to be the vesting date and the date of termination of the Laps...
Lapsing Forfeiture Right. In the event that for any reason the Participant is no longer a director of the Company (such cessation of service, a “Termination”) prior to the day immediately preceding the first annual meeting of the Company’s stockholders after the Grant Date (the “Final Vesting Date”), the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows:
Lapsing Forfeiture Right. The Company’s Lapsing Forfeiture Right is as follows: .
Lapsing Forfeiture Right. Except as set forth in Subsections 2.1(b), (c), and (d) hereof, in the event that for any reason the Participant is no longer an Employee, Director or Consultant of the Company or an Affiliate (the “Termination”) prior to [INSERT THE DATE OF THE END OF THE VESTING PERIOD], the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares that are then unvested in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”): [Insert Lapsing Forfeiture Right (vesting schedule) – sample below.]
Lapsing Forfeiture Right. In the event that for any reason the Non-Employee Director is no longer a director of the Company (such event being the “Termination”) prior to , the Non-Employee Director (or the Non-Employee Director’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows:
Lapsing Forfeiture Right. In the event that for any reason the Participant is no longer an employee or consultant of the Company or an Affiliate prior to December 8, 2016 (the “Termination”), the Participant (or (or the deceased Participant’s legal representatives and/or any person or persons who acquired the Participant’s rights to the Granted Shares by will or by the laws of descent and distribution (the “Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”) except as otherwise set forth in Section 2.1(b) or (c). The Company’s Lapsing Forfeiture Right is as follows except as otherwise accelerated upon termination of service by the Company not for cause or by the Participant for good reason as set forth in the Severance and Change of Control Agreement between the Company and the Participant dated December 3, 2014 (the “Severance Agreement”)): If the Participant’s Termination is prior to December 8, 2016 all of the Granted Shares shall be forfeited to the Company. On December 8, 2016, if the Participant remains an employee or consultant of the Company or an Affiliate, the Lapsing Forfeiture Right shall lapse as to 50.0% of the Granted Shares and the Participant’s ownership of that portion of the Granted Shares shall be vested as of such date. On December 8, 2017, if the Participant remains an employee or consultant of the Company or an Affiliate, the Lapsing Forfeiture Right shall lapse as to the remaining 50.0% of the Granted Shares and the Participant’s ownership of that portion of the Granted Shares shall be vested as of such date.
Lapsing Forfeiture Right. The Company’s Lapsing Forfeiture Right is as follows: [insert vesting schedule].
Lapsing Forfeiture Right. In the event that for any reason the Participant is no longer an employee or consultant of the Company or a Subsidiary prior to , 20XX (the “Termination”), the Participant shall, on the date of Termination, immediately forfeit to the Company all of the Granted Shares which have not yet lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”) except as otherwise set forth in Section 2(b) or (c). The Company’s Lapsing Forfeiture Right is as follows: The Granted Shares will vest and no longer be subject to the Company’s Lapsing Forfeiture Right with respect to 25% of the Granted Shares on , 20XX and an additional 1/16th of the Granted Shares on each , , and thereafter until , 20XX; provided that the total number of Shares for which the Lapsing Forfeiture Right expires will be rounded down on each date to the nearest whole Share. Accordingly, for the avoidance of doubt:
